In a deal that is said to be worth approximately £500m, LSL Property Services has announced it’s in talks with Countrywide regarding a possible merger.
Due to recent press speculation, both firms issued a statement which confirmed discussions were taking place regarding a "possible all-share combination".
LSL, which is the parent company of Primis network and TMA Club, commented that although discussions were taking place, there was "no certainty that any offer will ultimately be made for Countrywide".
Countrywide has come under scrutiny several times over the last year – including money laundering failures in 2019, which left them facing a £215,000 fine from HMRC, alongside a further £100,000 fine from RICS due to failing to preserve the security of client funds.